Chinese Devaluation Tips Scale for Consumers Says Taylor Precision CEO

Companies that make or buy their goods from Chinese factories are getting a break due to the devaluation of the yuan. American consumers should see some benefits as well, said Robert Kay, CEO of Taylor Precision Products. 'Your costs of goods are going down meaningfully and that should add good value to the consumer,' said Kay. 'Some people may just take that in margin, but I think that will flow through to the consumer.' Taylor Precision has been in the measurement device business since 1851, making and selling kitchen scales, thermometers, timers, bath scales and outdoor weather measurement products, many of them brought in from Asia. The Oak Brook, Illinois-based company started a new chapter in 2012 when Centre Partners, a New York based private equity group, purchased it and installed Kay as Executive Chairman and CEO. Under Kay and Centre, Taylor has doubled its size through innovative brand marketing, product development and acquisitions.